The bill revises the continuing education requirements for real estate licensees in New Jersey, specifically targeting brokers, broker-salespersons, and salespersons. It establishes that applicants must be at least 18 years old, possess a high school education, and demonstrate good moral character. New stipulations are introduced for applicants with expired licenses, requiring them to complete specific continuing education courses based on how long their license has lapsed. Additionally, the bill clarifies the continuing education requirements for salespersons affiliated with real estate referral companies, mandating tailored courses for their roles.

Moreover, the bill amends regulations for real estate schools and the approval process for continuing education courses, requiring schools to be managed by licensed instructors and allowing temporary authorization for new directors. It increases the continuing education hours for license renewal from 16 to 18 hours, with an additional two hours focused on timely topics, while exempting certain long-term brokers. The bill also raises the continuing education hours for salespersons with referral companies from 30 to 36 hours and for brokers or broker-salespersons transitioning from referral status from 30 to 45 hours. New delivery methods and assessment criteria for courses are established, including requirements for live webinars and online courses. The provisions of this bill will take effect on July 1, 2027, applying to all biennial real estate license terms commencing thereafter.

Statutes affected:
Introduced: 45:15-10.8, 45:15-16.2